QS $13-11$ Preferred stock issuance and dividends C$2$

Prepare the journal entry to record Tamas Company's issuance of $5,000$ shares of $$100$ par value, $7\%$ cumulative preferred stock for $$102$ cash per share.

Assuming the facts in part $1,$ if Tamas declares a year$-$end cash dividend, what is the amount of dividend paid to preferred shareholders? $($Assume no dividends in arrears.$)$